GBPUSD18092020 1GBP/USD recedes the upside momentum while declining from the multiday high of 1.3280 to 1.3263, up 0.12% intraday, during the pre-London open trading on Wednesday. The pair recently benefited from the mixed risk sentiment and increasing odds of a soft Brexit. Though, virus woes, an off in the US limit the quote’s short-term moves.

Further favoring the Brexit optimism could be the first talks between the UK PM Johnson and US President-elect Joe Biden that highlights the need for a soft stand on Northern Ireland. GBP/USD bulls flirt with short-term rising wedge resistance, at 1.3290 now, amid overbought RSI on the daily chart. The support line of the rising wedge, currently around 1.3195, becomes the key level to watch for the bears.